Online social networking and gaming company Yalla Group saw its net income surge 44.3% y-o-y in 3Q 2023, reaching USD 35.2 mn, the NYSE-listed lender said in its latest unaudited earnings release. Revenues also jumped 6.4% y-o-y in the same quarter to reach USD 85.2 mn, with USD 53.9 mn stemming from chatting services and USD 31.2 mn from games services.

A solid year so far: The company’s net income rose 37% y-o-y to USD 83.4 mn in the first nine months of 2023, while revenues ticked up 4% y-o-y to AED 237.9 mn.

What they said: “Our robust quarterly results demonstrate our operational success in refining processes, enhancing the gamification of our flagship applications, improving our gaming mechanics and optimizing user acquisition. These efforts have empowered us to build a more engaged community of users, reflected by a 13.6% year-over-year increase in our group’s average monthly active users to 35.1 mn,” Yalla CEO Yang Tao said.

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